1.A tropical storm named ‘Usman’ struck the Philippines on 25 December 2018.Storm Usman resulted in heavy rain and triggered deadly landslides in the Bicol region in Manila, Philippines.
2.Public sector banks’ Provision Coverage Ratio (PCR) has increased to 66.85% as of September 2018.In 2015, the PCR was less than 50%.The provision coverage ratio (PCR) gives an indication of the provision made against bad loans from the profit generated.Higher the PCR, lower is the unexposed part of the bad debts.
3.Defence Research and Development Organisation (DRDO) day is observed on 1 January. The DRDO was established in 1958 with just 10 laboratories to enhance the research work in defence sector. Dr. G Satheesh Reddy is the Chairman of DRDO.DRDO works under the Department of Defence Research and Development of Ministry of Defence.
4.Indian Space Research Organisation (ISRO) launched a new platform named ‘Samwad with Students’ (SwS) in Bengaluru on 1 January 2019.Through the SwS initiative, ISRO aims to engage youngsters across India to capture their scientific temperament.The first SwS event saw 40 students and 10 teachers from select schools who interacted with ISRO Chairman Dr. K Sivan
5.In its ‘Growth Outlook for 2019’, Confederation of Indian Industry (CII) stated that the GDP growth will be in the range of 7.5% in 2019.A settled goods and services tax (GST), improving credit availability and capacity expansion from increasing investment in infrastructure are among seven key drivers that will help Indian economy grow 7.5% 2019.
6.Reserve Bank allowed a one-time restructuring of existing debt up to Rs 25 crore for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets.The decision will help the micro, small and medium enterprises (MSMEs) which are facing a cash crunch in the wake of demonetization and GST implementation.
7.The Reserve Bank of India (RBI) has allowed Paytm Payments Bank to restart opening new accounts for its consumers after almost six months of the ban.Paytm Payments Bank stopped enrolling new customers in June 2018, following an audit by the RBI, which made certain observations about the process the company follows in acquiring new customers and its adherence to know-your-customer (KYC) norms.
8.Jair Bolsonaro was sworn in as Brazil's President in a ceremony at Brazil's National Congress Building. Bolsonaro is a former Army captain and admirer of the country's 1964-1985 military dictatorship.
9.Axis Bank announced its Managing Director and CEO Shikha Sharma has retired from the post and Amitabh Chaudhry will be the new managing director and CEO of the bank with effect from January 1, 2019.
10.The United States and Israel officially quit the United Nations Educational, Scientific and Cultural Organization (UNESCO) with the close of 2018. The countries had announced their decisions in 2017 of withdrawing from the agency, accusing it of bias against Israel.America has demanded fundamental reform in UNESCO, which was co-founded by it after World War II to foster peace. Israel joined the agency in 1949.
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